After SVB Failed, FHLB Charged $285 Million in Fees to Wind Down Financing - Bloomberg: US banking regulators confronted an unusually large penalty when they seized Silicon Valley Bank last year: $285 million in fees to prematurely wind down emergency financing from the Federal Home Loan Bank system.
Discount Retailer 99 Cents, Lenders Prep for Debt Restructuring: Discount retailer 99 Cents Only Store LLC is exploring a debt restructuring, and some bondholders have hired advisory firm Portage Point Partners for talks, according to people with knowledge of the situation.
Alex Jones’ Media Company Reorganization Doubtful, Trustee Says: The parent company of Alex Jones’ Infowars program appears unlikely to reorganize in bankruptcy following an irreparable feud between the company’s chief officer and lead attorney, a court-appointed trustee said.
Retail in the Red: BDO Bi-Annual Bankruptcy Update - 2H 2023 | BDO: An overview of the state of U.S. retail, including bankruptcies and store closings, for the second half of 2023, and a forecast for 2024.
Special Servicing Rate Tops 7% and Retail Is a Reason | GlobeSt: Another month, another increase in the special servicing rate, according to Trepp. Between January and February, it rose to 7.14%, the first time in nearly three years that it topped 7%. The same time in 2023, the rate was 5.18%, while at 6.67% six months ago.
A Missing $164 Million Highlights New Risk for Mortgage Bonds - Bloomberg: In January, investors including TPG Angelo Gordon, LibreMax Capital and Lord Abbett & Co. got a shock.
